US Markets End Week Mixed Amid Economic Worries

(MENAFN) U.S. equities concluded the week on a mixed trajectory, reflecting mounting economic uncertainty and apprehensions over the valuations of technology stocks.

The Dow gained 0.16%, or 74.8 points, finishing at 46,987.1, while the S&P 500 inched up 0.13%, or 8.48 points, closing at 6,728.8.

Conversely, the Nasdaq declined 0.22%, or 49.46 points, to wrap up the week at 23,004.54.

Meanwhile, the Volatility Index (VIX), commonly referred to as the "fear index," dropped 2.15% to 19.08.

The fluctuating weekly performance was largely driven by the ongoing government shutdown and worries surrounding technology stock valuations.

Stocks rebounded from earlier lows after Senate Minority Leader Chuck Schumer presented Republicans with a fresh proposal aimed at ending the record-setting government shutdown.

The plan, which would grant a one-year extension of enhanced Affordable Care Act tax credits, sought to provide short-term financing for federal operations. However, the proposal was rejected by Republicans.

The shutdown has disrupted the normal release of economic data, prompting investors to monitor alternative indicators more closely.

Additionally, the government closure has impacted air travel. Transportation Secretary Sean Duffy announced on Wednesday a 10% reduction in flights at 40 major airports starting Friday, potentially affecting between 3,500 and 4,000 daily flights.

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